Geojit Research: LIC Housing Finance Posts Strong Q1 Performance; Outlook Positive
An unfinished property development in Noida, Uttar Pradesh, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Geojit Research: LIC Housing Finance Posts Strong Q1 Performance; Outlook Positive

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Geojit Research Report

LIC Housing Finance Ltd. is one of the largest housing finance companies in India. It provides long-term finance to individuals, professionals and builders of residential flats and houses.

The company has a wide distribution network of 282 marketing offices. For Q1 FY21, loans portfolio increased 6.1% YoY driven by Individual loan portfolio (up 6.0% YoY) and project loan (up 7.5% YoY).

Total disbursements stood at Rs 3,561 crore (down 65.3% YoY). Net interest margin for the quarter contracted approximately 10 basis points to 2.32%.

Net profit rose 33.9% YoY to Rs 817 crore, owing to decline in provisions.

The expectation of economy to improve post lockdown, strong fundamentals, and new products will boost performance in near future.

Click on the attachment to read the full report:

Geojit Lic Housing Finance Q1FY21 Result Update.pdf

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